Skip to main content
Premium Trial:

Request an Annual Quote

CORRECTED: Affymetrix Reports Q1 Revenue Rise

This article has been corrected from a previous version that misstated the company's cash holdings.

 

SAN FRANCISCO, April 24 - Affymetrix on Wednesday posted increased revenues for the first quarter 2002.

 

For the three months ended March 31, the company reported revenues of $68.1 million, compared with $54.9 million in the same period one year ago. The first quarter revenue includes $6 million from wafers sold at cost to subsidiary Perlegen Sciences, according to Affymetrix.

 

Affymetrix said that it had a pro forma profit of $400,000, or $.01 a share, for the first quarter of 2002, its second consecutive quarter of pro forma profit.

 

Under standard rules, Affymetrix reported a $3.6 million loss, or $.06 a share, compared to a loss of $10.8 million, or $.19 per share, for the year-ago period.

 

The company said that revenue from its GeneChip arrays grew 38 percent to $57.2 million for the first quarter of 2002 compared to the same period a year ago.

 

Research and development dropped to $16.7 million for the first quarter versus $19.3 million for the year-ago period, though the company said that the 2001 numbers included Perlegen-associated R&D.

 

Affymetrix said it has $65 million in cash and cash equivalents and $286 million in available-for-sale securities.

 

The Scan

Pig Organ Transplants Considered

The Wall Street Journal reports that the US Food and Drug Administration may soon allow clinical trials that involve transplanting pig organs into humans.

'Poo-Bank' Proposal

Harvard Medical School researchers suggest people should bank stool samples when they are young to transplant when they later develop age-related diseases.

Spurred to Develop Again

New Scientist reports that researchers may have uncovered why about 60 percent of in vitro fertilization embryos stop developing.

Science Papers Examine Breast Milk Cell Populations, Cerebral Cortex Cellular Diversity, Micronesia Population History

In Science this week: unique cell populations found within breast milk, 100 transcriptionally distinct cell populations uncovered in the cerebral cortex, and more.